Replacing two distinct values inside a formulas at once using Control + H in Google Sheets

Let's say I have multiple formulas on different pages of the spreadsheet like this:

=ARRAYFORMULA(IFS(O2:O="","",O2:O="VOID","",L2:L=1,IF(P2:P>Q2:Q,"GREEN","RED"),L2:L="X",IF(P2:P=Q2:Q,"GREEN","RED"),L2:L=2,IF(P2:P<Q2:Q,"GREEN","RED"),J2:J="More than 2.5 goals",IF(P2:P+Q2:Q>2.5,"GREEN","RED")))

Is there a way to use Control + H to change all GREEN to RED and all RED to GREEN at once?

Something like I could do like what would happen if I used SUBSTITUTE on a string:

=SUBSTITUTE(SUBSTITUTE(RANGE,"GREEN","RED"),"RED","GREEN")